TEL AVIV, Israel — Save Foods (OTC Pink: SAFO) (“Save Foods” or the “Company”), an Israeli-based food-tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure food safety of fresh fruits and vegetables, announced today the signing of a Letter of Intent with PlanetAgro for the exclusive distribution of Save Foods’ products in Mexico.
PlanetAgro is a digital sales management platform for Mexico’s farmers that currently services the avocado, tomato, banana, onion and citrus fruit markets. PlanetAgro’s exchange allows growers to register their harvest on PlanetAgro’s exchange through its website or app, and, once cataloged on the exchange, buyers can access and purchase such harvest. The platform, which was initially created for the Mexican Agricultural Union to increase access to Mexican produce in the global market, is now available to private growers across Mexico.
According to the terms of the Letter of Intent, PlanetAgro will conduct a series of trials to evaluate the efficacy of Save Foods’ products on avocado, tomatoes, citrus and mango. If the trials are deemed successful under the terms of the Letter of Intent, the parties may enter into a definitive agreement pursuant to which members of PlanetAgro’s exchange will be advised to treat their produce with Save Foods’ products. At the time of the signing of the Letter of Intent, PlanetAgro had just over 360 members.
Mauricio Pérez y Sosa, PlanetAgro’s Chief Executive Officer, commented on the announcement, “All contracts executed on our platform are for physical delivery; for our exchanges to work, it’s critical the produce our customers receive is of the highest quality. Save Foods has an excellent reputation for produce treatments that significantly reduce waste and increase produce safety, and our preliminary results have confirmed that. If our field tests demonstrate similar results, we will require that Save Foods be used by our members throughout the country.”
Dan Sztybel, the Company’s Co-Chief Executive Officer, went on to say, “Establishing a relationship with PlanetAgro provides us with access to one of the largest produce growing markets in the world. We’ve started with avocados, one of Mexico’s leading exports, and we are hopeful that the initial pilot program will be successful, eventually expanding to additional crops.”
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on the Company’s expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. For example, the Company is using forward-looking statements when it discusses its collaboration with PlanetAgro and the economic benefit to Save Foods operations as well as the market potential for Save Foods in Mexico, which is contingent upon Save Foods’ successful efficacy trials, among other factors. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to market acceptance of our products by prospect markets and industries; the Company’s ability to raise sufficient funding in order to meet the Company’s business and financial goals; and certain other factors, including those discussed under the heading “Risk Factors” summarized in the Company’s filings with the Securities and Exchange Commission. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
About Save Foods
Save Foods (www.savefoods.co) is an innovative, dynamic company addressing two of the most significant challenges in the food / agritech industry: food waste & loss and food safety. We are dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with our customers, we develop new solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Our initial applications are in post-harvest treatments in fruit and vegetable packing houses.
By controlling and preventing pathogen contamination and significantly reducing the use of hazardous chemicals and their residues, Save Foods products not only prolong fresh produce shelf life and reduce food loss and waste, it also ensures a safe, natural, and healthy product in a very cost-effective way.
About PlanetAgro
PlanetAgro, Digitalization Of The Agricultural Market, is a trading and contract management blockchain based platform design to allocate agro-products offer and demand per region according to consumption Big Data. PlanetAgro is a member of the International Swaps and Derivatives Association (ISDA, https://www.isda.org/member-showcase/planetagro/) and the Association Futures Markets (AFM, https://www.afmorg.net/members/directory/—planetagro).
